FHFA’s Point Man on FHLBs Will Retire Next Spring

Stephen Cross, the FHFA’s deputy director of its Division of Federal Home Loan Bank Regulation, will retire in March, the agency announced this week.

Cross has served in the position since October 2008.

In addition to leading the FHFA’s program for regulating and supervising the Federal Home Loan Banks, Cross also served as the acting chief operating officer from September 2009 to December 2011.

“Steve Cross has served a vital role at FHFA during a period of upheaval in the housing and financial markets and significant development and change at FHFA,” said Federal Housing Finance Agency acting director Ed DeMarco.

“We are grateful for his oversight of many important and positive developments at the FHLBanks as they continue to strengthen their condition in the wake of the financial crisis, as well as many other contributions to this agency.”